According to Bloomberg, reports that Pakistan and El Salvador are establishing a knowledge-sharing partnership centered on cryptocurrency. Pakistan's Prime Minister's Special Assistant for Cryptocurrency and Blockchain, Bilal Bin Saqib, met with El Salvador's President Nayib Bukele in San Salvador, outlining the new knowledge-sharing partnership focused on cryptocurrency.
Pakistan is considering establishing a Bitcoin reserve and has allocated 2000 megawatts of electricity for Bitcoin mining, despite the International Monetary Fund recently rejecting Pakistan's proposal for electricity subsidies for Bitcoin mining. Additionally, the country established a new regulatory body, the Pakistan Digital Assets Management Authority, in May this year to regulate the cryptocurrency economy, with currently 15 to 20 million Pakistanis holding cryptocurrencies.
